To best use, your home seller's guide, write your GOALS down if you'd like to sell your house within a specific time frame or make a particular profit margin. Work with your real estate agent to map out the best path to achieve your objectives and set a realistic time frame for sale.
But the truth is that most homes could use a little bit of a facelift before you invite people to walk through and hope they'll make an offer on it.
What do you need to do exactly to get your house into perfect shape and keep it that way throughout all the showings and events? Here's a rundown of the steps you can take to make and keep your house not only picture-perfect -- but open-house perfect.
Define your needs
Write down all the reasons for selling your home. Ask yourself, "Why do I want to sell, and what do I expect to accomplish with the sale?" For example, a growing family may prompt your need for a larger home, or a job opportunity in another city may necessitate a move.
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Home Seller's Guide: Name your price
Your next objective should be to determine the best possible selling price for your house. You will need to consider the condition of your home what comparable homes in your neighborhood are selling points. The state of the overall market in your area and setting a fair asking price from the outset will generate the most activity from other real estate agents and buyers.
It's often difficult to remain unbiased when putting a price on your home, so your real estate agent's expertise is invaluable at this step. Your agent will know what comparable homes are selling for in your neighborhood and the average time those homes are sitting on the market. If you want a truly objective opinion about your home's price, you could have an appraisal done. Typically costs a few hundred dollars. You're always better off setting a fair market value price than setting your price too high.
Studies show that homes priced higher than three percent of their market value take longer to sell. If your home sits on the market for too long, potential buyers may think something is wrong with the property. Often, when this happens, the seller has to drop the price below market value to compete with newer, reasonably priced listings.
Home Seller's Guide: Getting Ready
Prepare your home: Most of us don't keep our homes in "showroom" condition. We tend to overlook piles of boxes in the garage, broken porch lights, and doors or windows that stick. It's time to break out of that owner's mindset and get your house in tip-top shape. Your home's condition will affect how quickly it sells and the price the buyer is willing to offer. First impressions are the most important. Your real estate agent can help you take a fresh look at your home, suggest ways to stage it and make it more appealing to buyers.
A home with too much of the owner's personality is harder to sell. Removing family photos, mementos, and personalized decor will help buyers visualize the home as their own. Make minor repairs and replacements. Small defects, such as a leaky faucet, a torn screen, or a worn doormat can ruin the buyer's first impression. Clutter is also a huge negative when showing your home to potential buyers. Make sure you have removed all knick-knacks from your shelves and cleared all your bathroom and kitchen counters to make every area seem as spacious as possible.
Home Seller's Guide: Marketing
Get the word out: Now that you're ready to sell, your real estate agent will set up a marketing strategy specifically for your home. There are many ways to spread the word, including the Internet, yard signs, open houses, media advertising, agent-to-agent referrals, and direct mail marketing campaigns. Your agent will use a combination of these tactics to bring the most qualified buyers to your home. Your agent should structure the marketing plan so that the first three to six weeks are the busiest.
Home Seller's Guide: Negotiations
Receive an offer: When you receive a written offer from a potential buyer, your real estate agent will first determine whether or not the individual is prequalified or preapproved to buy your home. If so, you and your agent will review the proposed contract, taking care to understand what is required of both parties to execute the transaction.
The contract should include the legal description of the property, offer price, down payment, financing arrangements, list of fees, and who will pay them. Deposit amount, inspection rights, repair allowances, method of conveying the title. Who will handle the closing, appliances, and furnishings that will stay with the home, settlement date, and contingencies.
Most offers to purchase your home will require negotiating to come to a win-win agreement. Your real estate agent is well versed in the intricacies of the contracts used in your area and will protect your best interest throughout the bargaining.
Home Seller's Guide: Options
Once the contract has been reviewed, you have three options, accept the agreement as is, accept it with changes (a counteroffer), or reject it. However, keep in mind that the document becomes legally binding once both parties have signed a written offer. If you have any questions or concerns, be certain to address them with your real estate agent before signing.
Home Seller's Guide: Mountains of documents
Prepare to close: Once you accept an offer to sell your house, you will need to make a list of all the things you and your buyer must do before closing. The property may need to be formally appraised, surveyed, inspected, or repaired. Your real estate agent can spearhead the effort and serve as your advocate when dealing with the buyer's agent and service providers. Depending on the written contract, you may pay for all, some, or none of these items. If each procedure returns acceptable results as defined by the agreement, the sale may continue. If there are problems with the home, the terms outlined in the contract will dictate your next step. You or the buyer may decide to walk away, open a new round of negotiations or proceed to close.
Home Seller's Guide: The day to sign aka; Closing
Close the deal: Closing refers to the meeting where property ownership is legally transferred to the buyer. During the closing, your agent will be present to guide you through the process and make sure everything goes as planned. By being present during the closing, they can mediate any last-minute issues that may arise. In some states, an attorney is required, and you may wish to have one present.
Are you looking to buy or sell a home in the Aransas Pass, TX area?
Ellis Realty Group | Robert 361-739-7219 | Sara 361-534-0168 | Naomi 361-793-1851